PEAK6 LLC Raises Holdings in SLM Corporation $SLM

Key Points

• PEAK6 LLC increased its stake in SLM Corporation by 77.1%, owning a total of 51,725 shares valued at approximately $1.52 million as reported in their latest SEC filing.
• SLM Corporation experienced a 21.4% year-over-year revenue decline, reporting $403.6 million in revenue for the quarter, missing analysts' EPS estimates by $0.17.
• The company declared a quarterly dividend of $0.13 per share, corresponding to a 1.7% yield, with an ex-dividend date of September 4th.

PEAK6 LLC lifted its stake in shares of SLM Corporation (NASDAQ:SLM - Free Report) by 77.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,725 shares of the credit services provider's stock after purchasing an additional 22,525 shares during the quarter. PEAK6 LLC's holdings in SLM were worth $1,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of SLM during the 1st quarter valued at $607,000. Oppenheimer & Co. Inc. bought a new stake in shares of SLM during the 1st quarter valued at $216,000. Informed Momentum Co LLC bought a new stake in shares of SLM during the 1st quarter valued at $4,190,000. Envestnet Asset Management Inc. raised its stake in shares of SLM by 24.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 207,129 shares of the credit services provider's stock valued at $6,083,000 after purchasing an additional 40,378 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of SLM by 19.2% during the 1st quarter. GAMMA Investing LLC now owns 8,034 shares of the credit services provider's stock valued at $236,000 after purchasing an additional 1,294 shares during the period. 98.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SLM. Morgan Stanley reiterated an "overweight" rating and set a $40.00 price objective (up from $33.00) on shares of SLM in a research note on Wednesday, May 21st. Barclays upped their target price on SLM from $38.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upgraded SLM from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $29.00 to $38.00 in a research note on Friday, July 11th. Royal Bank Of Canada restated an "outperform" rating on shares of SLM in a research note on Monday, July 14th. Finally, Wells Fargo & Company began coverage on SLM in a research note on Monday, August 25th. They issued an "overweight" rating and a $38.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Insiders Place Their Bets

In related news, EVP Kerri A. Palmer sold 55,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $32.21, for a total transaction of $1,771,550.00. Following the completion of the sale, the executive vice president directly owned 119,253 shares in the company, valued at $3,841,139.13. This represents a 31.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

SLM Price Performance

Shares of SLM traded up $0.35 during midday trading on Thursday, reaching $31.09. The stock had a trading volume of 305,560 shares, compared to its average volume of 2,508,148. The company's 50-day moving average is $32.29 and its 200 day moving average is $30.92. SLM Corporation has a 12-month low of $19.64 and a 12-month high of $34.97. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.02. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.88 and a beta of 1.11.

SLM (NASDAQ:SLM - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The credit services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.17). SLM had a return on equity of 21.93% and a net margin of 15.46%.The firm had revenue of $403.60 million during the quarter, compared to analysts' expectations of $370.26 million. During the same quarter in the previous year, the company posted $1.11 earnings per share. SLM's revenue for the quarter was down 21.4% compared to the same quarter last year. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. On average, equities analysts predict that SLM Corporation will post 3.07 EPS for the current fiscal year.

SLM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, September 4th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, September 4th. This represents a $0.52 annualized dividend and a yield of 1.7%. SLM's dividend payout ratio is currently 26.13%.

SLM Company Profile

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.